Turbo Tax computing wrong ACA subsidies.

[ocean view]

Have you tried to contact TurboTax to alert them of this issue you’re having?

Maybe the TT customer service folks can help you with a work around, let you know that it’s a known bug with a fix in the works, or help you to find the error in your data entry. They are really the only ones who can help you correct the problem.

 

[Anita]

I'm not sure that running the Healthcare calculator now will give you correct numbers, it didn't when I tried a couple of months ago.
You need to look at the original subsidy approval letter that they would have sent you late in 2020 for 2021. It will list the income that they had approved you for and also the subsidy amount at that time keeping in mind that midway through the year everything changed due to the ARP and the subsidy amount would have increased and your monthly payment would have dropped.
I would guess that either you made more than you originally estimated or you're plugging in the wrong numbers from the 1095.
I under estimated my income and had to pay some back due to my error.

Running last years numbers and am speaking to my ACA representative. Everyone agrees my subsidy is correct and TT is wrong.

 

[Anita]

Have you tried to contact TurboTax to alert them of this issue you’re having?

Maybe the TT customer service folks can help you with a work around, let you know that it’s a known bug with a fix in the works, or help you to find the error in your data entry. They are really the only ones who can help you correct the problem.

I did speak to TT help earlier. They said I had to pay first and if it is actually an error, they cannot fix it anyway. I would have to pay for "100% protection guarantee" submit the efile to IRS and then they would reimburse me.

 

[RunningBum]

Curiosity got the best of me and I took a closer look at the screenshot in post #20. Clearly someone swapped 1095-A column B with A or C, as I suggested in post #15 and was seconded in post #16. I doubt TT would still have an error like this in February but it's not impossible. Suggest the OP clear the form if possible and re-enter. If not possible, start over with the whole return. Or use different software as many have suggested. No one is forced to use TT online. Now I"m done.

 

[MBSC]

Here is a screenshot of TT saying...[$1643 payback]. I can't get deeper than that.

If you add the Roth distribution from your other thread to $28,822, does this total approximately $53k-$55k? If so, TT thinks the Roth is ACA taxable income.

The max repayment limit is $1600 for 200%-300% FPL but TT is saying repay $1643 so something is getting ACA MAGI over 300% FPL.

After you enter the J code, TTax will ask you if you have owned a Roth IRA for at least 5 years, whether you've taken any withdrawals before, and how much you contributed prior to 2021. The answers to those questions are used to calculate how much is taxable.

 

[badatmath]

WTH dude...of course I read it. But as I have been saying...TT dies not let me view their 8962. That's why you guys have got to answer with some assumption that I'm telling the truth. Here is a screenshot of TT saying my subsidy is only $1590. I can't get deeper than that.

I don't think anyone HAS GOT TO do anything. You are rejecting helpful suggestions and we are not TT support or experts. We are a kind, helpful, supportive community who can suggest possible avenues to explore. You really do not seem to be interested in the suggestions.

 

[Anita]

I don't think anyone HAS GOT TO do anything. You are rejecting helpful suggestions and we are not TT support or experts. We are a kind, helpful, supportive community who can suggest possible avenues to explore. You really do not seem to be interested in the suggestions.

Which specific suggestions are you talking about?

 

[Anita]

If you add the Roth distribution from your other thread to $28,822, does this total approximately $53k-$55k? If so, TT thinks the Roth is ACA taxable income.

The max repayment limit is $1600 for 200%-300% FPL but TT is saying repay $1643 so something is getting ACA MAGI over 300% FPL.

Roth distribution is not taxable. That's why I posted screenshot of total AGI from TT saying $28822. That's the final amount with all distributions. That was the summation right before Efile option.

 

[meridiver]

I've never used TT online but I use the desktop version every year and if there's one thing I've learned in 25 years it's to not even start my taxes until March. The initial versions of TT ALWAYS have errors and the early filers are the ones that flush them out. By the time I start, it usually goes relatively smoothly even though I have fairly complicated taxes with a fair number of forms each year.

Also, I'd highly recommend biting the bullet and switching to the desktop version. As others have mentioned, that way, at least you can actually see the forms and the underlying worksheets. Often that's the only way to identify the problem and figure out if it's you or them.

 

[Anita]

Curiosity got the best of me and I took a closer look at the screenshot in post #20. Clearly someone swapped 1095-A column B with A or C, as I suggested in post #15

Nope...

 

[Anita]

I've never used TT online but I use the desktop version every year and if there's one thing I've learned in 25 years it's to not even start my taxes until March. The initial versions of TT ALWAYS have errors and the early filers are the ones that flush them out. By the time I start, it usually goes relatively smoothly even though I have fairly complicated taxes with a fair number of forms each year.

Also, I'd highly recommend biting the bullet and switching to the desktop version. As others have mentioned, that way, at least you can actually see the forms and the underlying worksheets. Often that's the only way to identify the problem and figure out if it's you or them.

Thanks. I did switch to desktop version and still no dice.
I called TT back again and signed up for live help. Some live person got on my desktop. She verified to me that I could not in any manner look at the forms until I paid. This is a change from previous years.
Anyway...she searched everything and couldn't figure it out. She said she is kicking it up the ladder and will call me back. That's been over an hour ago.
While I am waiting, I will put the numbers in TaxAct and see what happens.
Thanks again

 

[RunningBum]

Thanks. I did switch to desktop version and still no dice.

If you went to the desktop version surely you can get a screenshot of form 8962 to show us.

 

[Anita]

If you went to the desktop version surely you can get a screenshot of form 8962 to show us.

Tell me how? TT help doesn't even know how but I'm all ears...

 

[PaunchyPirate]

Tell me how? TT help doesn't even know how but I'm all ears...

This was covered in post #6 of this thread.

 

[cathy63]

Thanks. I did switch to desktop version and still no dice.
I called TT back again and signed up for live help. Some live person got on my desktop. She verified to me that I could not in any manner look at the forms until I paid. This is a change from previous years.
Anyway...she searched everything and couldn't figure it out. She said she is kicking it up the ladder and will call me back. That's been over an hour ago.
While I am waiting, I will put the numbers in TaxAct and see what happens.
Thanks again

Tell me how? TT help doesn't even know how but I'm all ears...

"I did switch to the desktop version" means that you bought the Windows or Mac TurboTax program and installed it on your computer. If you did that, then you are starting the program by clicking on an icon and not by opening a web browser and logging in to the TTax website.

If you're running the desktop version of the software, then you press Ctrl+2 (or Cmd+2 if you're on a Mac) to go into Forms Mode. Then select the 8962 from the left nav to review it.

If you're still using the web version of the software then you have to pay for it before you can see the 8962 (or any other form). The reason they don't let you see the forms until you've paid is that if you can see all the numbers, you can just write them on your own forms and mail them in, then Intuit won't make enough money to stay in business.

I would suggest you enter your info at FreeTaxUSA.com and see if they come up with a number that makes more sense to you. If they end up the same as TurboTax, then there's something on your end that we don't have enough info to help you resolve. If they come up with a number you like better, then you can always file your return through them. The Fed return is free, but they will keep trying to upsell you on other services and they charge for the state return if you need one.

 

[Anita]

"I did switch to the desktop version" means that you bought the Windows or Mac TurboTax program and installed it on your computer. If you did that, then you are starting the program by clicking on an icon and not by opening a web browser and logging in to the TTax website.

If you're running the desktop version of the software, then you press Ctrl+2 (or Cmd+2 if you're on a Mac) to go into Forms Mode. Then select the 8962 from the left nav to review it.

If you're still using the web version of the software then you have to pay for it before you can see the 8962 (or any other form). The reason they don't let you see the forms until you've paid is that if you can see all the numbers, you can just write them on your own forms and mail them in, then Intuit won't make enough money to stay in business.

I would suggest you enter your info at FreeTaxUSA.com and see if they come up with a number that makes more sense to you. If they end up the same as TurboTax, then there's something on your end that we don't have enough info to help you resolve. If they come up with a number you like better, then you can always file your return through them. The Fed return is free, but they will keep trying to upsell you on other services and they charge for the state return if you need one.

Thanks
When you say "desktop" version, I thought you meant using the Windows site App instead of the mobile App. The reason is because TT live help had me get on the computer because that "version" allowed other tools and download able views. But again...she was wrong.

Anyway....thanks for the other link. I may try that too.

 

[Anita]

This was covered in post #6 of this thread.

Nope...doesn't work without paying in advance. I have made it clear over and over again that I didn't pay yet and won't unless TT can fix thier issue. Supposedly they are working on it. Was only suppose to take a few minutes but its almost two hours now.
Thanks

 

[RunningBum]

Nope...doesn't work without paying in advance. I have made it clear over and over again that I didn't pay yet and won't unless TT can fix thier issue. Supposedly they are working on it. Was only suppose to take a few minutes but its almost two hours now.
Thanks

Nothing in this thread has been clear. You said you were using the desktop version but you were wrong. And how is it that you estimated a higher MAGI when you applied for the ACA insurance than what your actual MAGI was, but the subsidy comes out exactly the same? A lot of things aren't adding up here.

 

[meridiver]

Thanks
When you say "desktop" version, I thought you meant using the Windows site App instead of the mobile App. The reason is because TT live help had me get on the computer because that "version" allowed other tools and download able views. But again...she was wrong.

Anyway....thanks for the other link. I may try that too.

The "desktop" version is a software program you purchase from Amazon or direct from Intuit for either Mac or Windows, and download to your computer. I think you can also still buy a CD Rom version? If you buy this version (at a cost of roughly $39-79 depending on whether you need Deluxe, Premier, or Home and Business), you get an actual software program with all the forms loaded in it as well as basic help and FAQs. The software guides you through the preparation using guided interview questions (I think it's called Easy Step or something), but at any time, you have the option of switching directly to the forms and reviewing or filling in numbers in that way. The cost also includes one state tax filing for no additional charge.

I highly, highly recommend using the desktop version of TT rather than trying to use the online version. TT's phone help is notorious for giving incorrect or incomplete answers, so your best bet is to be able to review the forms yourself with the desktop version. If you find a bug in the software and cannot get it to give you the answer you know is correct, this also allows you to override directly in the forms with the correct numbers. I also don't file online. I print out and mail the completed forms the old fashioned way so I don't incur any additional bogus filing charges.

 

[Anita]

The "desktop" version is a software program you purchase from Amazon or direct from Intuit for either Mac or Windows, and download to your computer. I think you can also still buy a CD Rom version? If you buy this version (at a cost of roughly $39-79 depending on whether you need Deluxe, Premier, or Home and Business), you get an actual software program with all the forms loaded in it as well as basic help and FAQs. The software guides you through the preparation using guided interview questions (I think it's called Easy Step or something), but at any time, you have the option of switching directly to the forms and reviewing or filling in numbers in that way. The cost also includes one state tax filing for no additional charge.

I highly, highly recommend using the desktop version of TT rather than trying to use the online version. TT's phone help is notorious for giving incorrect or incomplete answers, so your best bet is to be able to review the forms yourself with the desktop version. If you find a bug in the software and cannot get it to give you the answer you know is correct, this also allows you to override directly in the forms with the correct numbers. I also don't file online. I print out and mail the completed forms the old fashioned way so I don't incur any additional bogus filing charges.

Thanks a bunch. Never knew of the differences between different versions. Most people here have been very helpful and respectful.
Either way... the point of the OP is the same. TT has a problem and the help center cannot even identify the individual forms to see where the error lies unless you submit an erroneous efile and then wait to be reimbursed later. Kind of nutty.
Thanks again.

 

[Sue J]

I would suggest you enter your info at FreeTaxUSA.com and see if they come up with a number that makes more sense to you. If they end up the same as TurboTax, then there's something on your end that we don't have enough info to help you resolve. If they come up with a number you like better, then you can always file your return through them. The Fed return is free, but they will keep trying to upsell you on other services and they charge for the state return if you need one.

+1

That's exactly what I would do. I've used FreeTaxUSA for many years and one of the best things about it is that once you get to the Summary you can see every page of the return and all the worksheets behind them. It's in the format of the actual 1040. You'll be able to see your 8962 form and everything that went into the calculation.

I've tried to do comparisons with other tax software and got frustrated because I couldn't see the 1040 unless I paid or filed with them.

Give it a try and come back and tell us what you found out.

 

[meridiver]

I may give FreeTaxUSA a try myself this year. I think when I looked into it years ago, my tax situation was too complicated for it, but it sounds like it can handle most issues now.

Just wanted to point out that if you do get desktop TT, one of the things it does is to automatically update the software each time you boot it so your software will be updated with any new bug fixes they've come up with. When I used to try to do my taxes in February, I sometimes got stuck at an issue that I knew they were handling incorrectly. I learned to close the program completely, wait a few weeks, reboot and update, and voila, problem was magically solved.

 

[11522914]

Does the ctrl-2 trick mention above work on HR too?

It has a forms tab at the top for easy access. No need to use control-2

 

[PaunchyPirate]

Anita, how are you defining MAGI? MAGI is your income BEFORE you subtract your standard deduction amount.

The reason I ask.... I took the time to create a "pretend" income tax return using online TurboTax. I was trying to mimic what you have done using the exact tool you are using. I plugged in the numbers from your 1095-A. I plugged in straight W-2 income to achieve my MAGI since I don't really know what your income sources are, but that shouldn't matter to calculate the impact of ACA subsidies on the taxes.

What I found is that in order to get the return to show I owed about $1600 due to an ACA adjustment, I had to enter MAGI income of $53,922. If I enter MAGI income of $28892, I don't see any increase in my taxes due to ACA subsidies.

By any chance is the full income between you and your spouse actually something like $53,922 and you are thinking that your MAGI is $53,922 - $25,100 (your standard deduction) = $28,822?

MAGI would actually be $53,922. MAGI is not the same thing as Taxable Income.

 

[ivinsfan]

Thanks a bunch. Never knew of the differences between different versions. Most people here have been very helpful and respectful.
Either way... the point of the OP is the same. TT has a problem and the help center cannot even identify the individual forms to see where the error lies unless you submit an erroneous efile and then wait to be reimbursed later. Kind of nutty.
Thanks again.

Well at this point who is actually certain that TT has a problem? That's the question isn't it? I can't tell you how many times I was certain I was a 100% right and then I wasn't right.



I guess the posters who you consider "unhelpful" and not "respectful" were trying to get you to prove your work. That's kind of how it rolls around here.